Dublin, 6th of December, 2022 - CBRE Hotels have confirmed the sale of Dunboyne Castle Hotel & Spa, Dunboyne, Co. Meath in an off-market transaction. The hotel is being acquired by Davy Real Estate for TMR Hotel Collection for an undisclosed sum.
Dunboyne Castle Hotel & Spa offers 145 spacious bedrooms including various suites together with a Mews building with 10 units and is set on 21 acres of luxury estate with beautiful landscaped manicured gardens. Steeped in history, Dunboyne Castle Hotel & Spa provides modern hotel facilities sensitively integrated with the period building dating back to the mid 1700’s. The award-winning Seoid Spa is among the most popular spas in the Greater Dublin area with its 18 treatment rooms and hydrotherapy pool.
The property enjoys excellent accessibility next to the M3 and within a short drive of the M50, Dublin Airport and Dublin City Centre.
Dunboyne Castle also has considerable development potential with planning permission granted for apartments and houses on the grounds.
Dunboyne Castle attracts an excellent mix of business between leisure, corporate functions and weddings. The hotel is highly profitable and in excellent condition throughout.
Gráinne Ross of Dunboyne Castle Hotel & Spa commented:
“After 16 years of family ownership, we have decided to sell the hotel. We wish to thank the hotel team for their magnificent contribution over these years, making the hotel what it is today. We know the future is bright for Dunboyne Castle,with its current exceptional team and new owners. We would also like to thank our customers, suppliers and the community of Dunboyne for their loyalty and support. We wish TMR Hotel Collection every success.”
Eimear Fox, Director Davy Real Estate, commented:
“We are delighted to add Dunboyne Castle Hotel & Spa to the TMR Hotel Collection. This acquisition will complement our existing collection of 14 four-star and five-star Irish hotels which includes Harvey’s Point, Aghadoe Heights, Connemara Coast Hotel, Diamond Coast Hotel, Mount Wolseley, Farnham Estate and our purchase earlier this year of Ballymascanlon House Hotel. As with all hotels acquired by TMR Hotel Collection, we plan to significantly invest in the business.
Dunboyne Castle Hotel & Spa is a very successful business, and we look forward to welcoming valued guests and building further on the superb legacy of service and hospitality. We are very pleased to announce that Windward Management will manage the hotel”.
Patrick Coyle CEO Windward Management commented:
“Windward Management is delighted to have been appointed to manage Dunboyne Castle Hotel and Spa by TMR Hotel Collection. It makes a wonderful addition to their portfolio, and we look forward to working with all management and staff in delivering on the next exciting chapter for the hotel.”
Paul Collins Executive Director CBRE Hotels commented:
“The sale of this superb full-service highly profitable four-star hotel demonstrates the continued strength of the Irish hotel market, particularly for prime assets. The Hotel provides several development opportunities that will generate substantial business growth.”
CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 150 employees, we work with occupiers, investors and developers of office, industrial and logistics, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com